LONDON and NEW YORK--Markit, a leading, global financial information services company, today announced that global growth investor General Atlantic (GA) has agreed to make a substantial equity investment in Markit.
The addition of General Atlantic as a significant shareholder positions Markit for continued long-term growth and adds a proven investor in financial sector innovation to Markit's existing diverse shareholder base. General Atlantic will assist Markit actively in developing its growth strategy further and executing value-creating acquisitions.
Lance Uggla, CEO of Markit, said: "We are delighted to welcome General Atlantic as a shareholder in Markit. GA is one of the leading investment firms in financial services and having them as a partner is an affirmation of our business model and enhances the opportunity we have for building long-term value. This significant investment marks an important milestone in Markit's strategy and evolution, and we will benefit immensely from GA's support and Bill Ford's participation on our Board."
Bill Ford, CEO of General Atlantic, said: "Markit is an innovative, entrepreneurial firm with a great management team. As a financial information services industry leader, Markit is well-positioned to deliver the independent, high quality products and services that market participants need. We look forward to contributing to the next stage of Markit's growth as a strategic partner."
Since inception, Markit has expanded its product set across all asset classes and diversified its services to include valuations, economic and reference data, indices and trade processing.
For further information, please contact:
Managing Director, Corporate Communications
Telephone: +44 20 7260 2094 / +44 7747 468486
Senior Vice President
Telephone: +1 203-629-8658
Penrose Financial (on behalf of General Atlantic)
Telephone: +44 20 7786 4884 / +44 7798 626284
Notes to Editors:
Markit is a leading, global financial information services company with over 1,400 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial market place. For more information, see www.markit.com.
About General Atlantic
GENERAL ATLANTIC is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with exceptional management teams and build enduring businesses worldwide. Established in 1980, GA manages approximately $15 billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto, London, Düsseldorf, Hong Kong, Beijing, Mumbai and São Paulo. For further information and a listing of GA's public and private portfolio companies see www.generalatlantic.com.